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Novatek on Track for 2nd Arctic LNG 2 Train in 2024

LNG

Russia's Novatek is on track to complete the second train of the Arctic LNG 2 project in 2024 according to High North News.

  • The final module for the second production train of the Arctic LNG 2 project, departed from China to Murmansk last week.
  • In February the company will integrate the last three modules ahead of towing the LNG train to the Gydan peninsula this summer.
  • It remains unclear how much LNG will be possible to sell due to targeted US sanctions but construction has so far not been halted. Novatek have managed to secure all modules required, including replacing Western turbines with Chinese imports.
  • The latest round of sanctions target the purchase and transport of LNG from the project, but spot LNG could be sold at a discount to Asian buyers. Total last week said it will not receive LNG cargoes from Arctic LNG 2 in 2024 despite a 10% stake in the project.
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